Gold fell on Thursday as an escalating Middle East conflict fuelled concerns that the US Federal Reserve could hike interest rates this year.

The United States announced on Wednesday a new tariff on various imports from Brazil, following a year-long investigation into the Latin American giant’s trade and other policies.

Oil prices eased on Thursday as traders weighed escalating tensions between the United States and Iran and the risks to oil supplies moving through the Strait of Hormuz.

The dollar was steady on Wednesday after falling the day before. Softer-than-expected inflation data curbed bets for a near-term rate hike from the Federal Reserve, despite concerns that elevated oil prices could fuel inflation risks.

US consumer inflation cooled more than expected in June as energy costs fell on a temporary easing of the US-Iran war, government data showed Tuesday, but renewed hostilities could stoke price pressures.

Oil extended gains by around 2 percent on Wednesday as President Donald Trump reimposed a naval blockade on all Iranian ports and Iran’s Islamic Revolutionary Guard Corps threatened to close “all other export corridors that benefit the U.S. and its allies”.

India approved a new semiconductor programme on Wednesday, offering more than $13 billion in financial assistance to accelerate local chip production, as it seeks to become a global electronics powerhouse.

The world’s tallest unoccupied skyscraper was meant to boast a rooftop pool and a luxury hotel after completion, but instead it has stood deserted in the Chinese port city of Tianjin for years.

Bangladesh Bank eased regulations on external borrowing by fully foreign-owned industrial enterprises, allowing them to access loans from parent companies, associates, and shareholders abroad under a general authorisation framework.

A drop in energy costs had more than offset upticks in housing and food prices

Brent futures climbed 58 cents, or 0.7 percent, to $85.31 a barrel

The dollar steadied on Tuesday ahead of US inflation data, with Middle East tensions lifting oil prices.

The US government has already paid back tens of billions of dollars in tariffs it collected before the Supreme Court ruled them illegal, according to budget figures released Monday.

Iran and the US have both announced rival blockades of the Strait of Hormuz once again, crippling an already fragile ceasefire deal.

Overseas shipments rose 27.0 percent year-on-year

Oil prices jumped and stocks fell again Tuesday after fresh US strikes against Iran

Presenting five-pronged priority agendas for urgent action, Prime Minister's Adviser on Finance and Planning Rashed Al Mahmud Titumir on Monday said the challenges faced by LDCs are a test of international solidarity and the credibility of multilateralism

SK Hynix shares fell more than 15 percent in Seoul on Monday, its biggest one-day decline in nearly two decades. Investors cashed out of a scorching share price rally following its Nasdaq debut last week.

Iranian oil supplies at sea are rising after Tehran ramped up exports during the interim peace deal with the US. However, sales have been slow.

China’s economy likely slowed in the second quarter after a solid start to the year. Weak domestic demand offset the boost from resilient exports during a global oil shock, fueling expectations for fresh policy stimulus.